“Most the infrastructure in this industry has become old and needs be
revamped to ensure the continuation of efficient operations. This
scenario is more visible in the Middle East, which currently dominates
the oil and gas industry in terms of exploitable reserves”

The research study covers the present scenario and growth prospects of
the global control
valvesmarketfor 2016-2020. The market size has
been estimated based on the demand for control valves from various
end-user segments. The average price of various types of control valves
has been considered to determine the market size.

The manufacturers of control valves are increasingly focusing on the
development of globe valves to overcome problems such as reduced flow
capacity, noise, pressure drops, cavitation issues, and difficult manual
operation that are associated with conventional globe valves. Some of
the new developments include in-suite seat arrangement, guided disc
arrangement, non-rotating stem globe design, and seal welding of
threaded seat ring. These developments enhance high sealing performance
and require less handwheel effort.

Technavio’s sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.

Technavio heavy
industry analysts highlight the following three factors that are
contributing to the growth of the global control valves market:

Rising demand from water and wastewater treatment industry

Demand from oil and gas industry

Increase in CCGT power plants

Rising demand from water and wastewater treatment industry

There is increased demand for high quality and uncontaminated water for
domestic consumption purposes. Though advanced economies have a
well-developed infrastructure for water production, they lack effective
supply facilities, resulting in impurities polluting the water during
conveyance. This has led to several European countries shifting their
focus toward improving municipal water treatment infrastructure.

Anju Ajaykumar, a lead tools
and components research analyst at Technavio, says, “In
contrast to the growth in developed countries, the municipal water
infrastructure is in a dire condition in emerging economies like China
and India. Large sections of the population in these countries lack
access to potable water.”

Demand from oil and gas industry

The growth of the global oil and gas industry has led to an increase in
the demand for valves, which in turn, automatically creates demand for
control valves. The use of control valves in the oil and gas industry
ranges from the extraction of crude oil and gas till it reaches the end
customers via the refinery and associated pipelines.

“Most the infrastructure in this industry has become old and needs be
revamped to ensure the continuation of efficient operations. This
scenario is more visible in the Middle East, which currently dominates
the oil and gas industry in terms of exploitable reserves,” adds
Anju.

Increase in CCGT power plants

Coal is one of the most commonly used fuels for power production.
Lately, natural gas has been slowly taking over coal’s share in the
global power generation market. Historically, coal power plants are
preferred over other types of power plants primarily due to the cost
factor. In the past two decades, there has been a steady increase in the
number of natural gas-based power plants due to the long-term focus of
world leaders and environmentalists to curtail GHG emissions.

Another factor working in favor of gas-based power plants is the
increased production of natural gas and the fall in its price. Regions
that have abundant and cheap natural gas are expected to install
gas-based power plants, which are more efficient and cost-effective
compared with their fossil-fuel based counterparts.

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About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
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and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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